By Prudential Douglas Elliman
(For the Seller)
Broker: Typically 6%
Own Attorney: Consult your attorney
Co-op Attorney: $450+
Flip Tax: Typically 1% to 3% of price (if applicable)
Stock Transfer Tax: $0.05 per share
Move-out Deposit/Fee: Varies by building
NYC Transfer Tax:
Residential: Up to $500,000 = 1% / $500,000+ = 1.425%
Commercial: Up to $500,000 = 1.425% / $500,000+ = 2.625%
Admin. Fee: Non-Deed Transfers (i.e., Co-ops) = $50 / Residential Deed Transfers= $75 / Commercial Deed Transfers = $165
NY State Transfer Tax: $4 per $1,000 of price
NYS Equalization Fee: $75.00
Pick-up / Payoff Fee: $250-$500
UCC-3 Filing Fee: $100
Miscellaneous Co-op Charges: Vary by building
(For the Purchaser)
MORTGAGE CLOSING COSTS
Buyer’s Attorney: Consult your attorney
Bank Fees: $350-$750
Application Fee: $350
Processing Fee: $330
Appraisal Fee: $300-$1,500 (depending on sales price)
Credit Report Fee: $9.80 single/$14.60 joint
Bank Attorney: $650
Lien Search: $250-$350
UCC-1 Filing: $100
Mansion Tax: 1% of entire purchase where price is $1,000,000 or more.
(Additional Real Estate Expenses)
Miscellaneous Co-op Charges: Vary by building
Maintenance Adjustment: Pro-rated for the month of closing
Short Term Interest: Equal to interest for balance of month in which you close
